Too much waste, not enough rationing: the failure of stochastic, competitive markets

DOI10.1016/J.JET.2020.105067zbMath1447.91063OpenAlexW3016365018MaRDI QIDQ785538

Francesco Reito, David de Meza

Publication date: 7 August 2020

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://eprints.lse.ac.uk/104084/1/JET_FINAL_figs_.pdf

zbMATH Keywords

efficiencystochastic demandrationingwaste

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24)

Related Items (1)

Macro shocks cause equilibrium price dispersion

Cites Work

• Sorting versus screening: search frictions and competing mechanisms
• Diversification and competition: Financial intermediation in a large Cournot-Walras economy
• Competing mechanisms with multi-unit consumer demand
• Dynamic Competition With Random Demand and Costless Search: A Theory of Price Posting
• Bertrand Equilibrium with Capacity Constraints and Restricted Mobility
• Aggregation of Information in Large Cournot Markets

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